tag:blogger.com,1999:blog-1609074421438585217.post8643192747462236074..comments2024-01-28T11:41:12.149+08:00Comments on T.U.B Investing: The Value Of Chuan Hup Holdings LtdThe Unique Bunch (T.U.B)http://www.blogger.com/profile/18291160695754244321noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-1609074421438585217.post-69811700723430948282018-03-22T20:26:07.404+08:002018-03-22T20:26:07.404+08:00Associates - almost but also include earnings reco...Associates - almost but also include earnings recognized by Chuan Hup. <br /><br />Subsidiary - consolidated under group. donmihaihaihttps://www.blogger.com/profile/12590388787069566676noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-79155544148266010352018-03-19T20:51:03.107+08:002018-03-19T20:51:03.107+08:00Hi Donmihaihai,
Yup, the numbers are above book v...Hi Donmihaihai,<br /><br />Yup, the numbers are above book value. Thus, the amount of discount is required.<br /><br />As per the notes, the Balance sheet reflect these associates at cost and including dividend received and exchange differences.<br /><br />Thanks.<br /><br />Regards,<br />TUBThe Unique Bunch (T.U.B)https://www.blogger.com/profile/18291160695754244321noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-61539196255136420252018-03-19T19:41:39.802+08:002018-03-19T19:41:39.802+08:00Nevermind, made a mistake without realizing.
The...Nevermind, made a mistake without realizing. <br /><br />The numbers you put out for PCI, Finbar and PAD are above book not below. <br /><br />Anyway, while it is possible that some company annual reports do reflect the investments in subsidiaries and assoicates in details in the notes, what reflected in B/S under group is never in cost. <br /><br />donmihaihaihttps://www.blogger.com/profile/12590388787069566676noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-49814339136688644232018-03-17T12:43:03.776+08:002018-03-17T12:43:03.776+08:00Hi ghchua,
Thank you for commenting on this post....Hi ghchua,<br /><br />Thank you for commenting on this post. <br /><br />I agree on your comments. PCI is CH cash cow. While Finbar is improving as compared to 2 years ago.<br /><br />PSD should continue to do well as per their recent outlook.<br /><br />Regards,<br />TUBThe Unique Bunch (T.U.B)https://www.blogger.com/profile/18291160695754244321noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-3223305189966837762018-03-17T12:41:21.410+08:002018-03-17T12:41:21.410+08:00Hi Donmihaihai,
Thanks for commenting and reading...Hi Donmihaihai,<br /><br />Thanks for commenting and reading.<br /><br />To question 1, I believe what I have taken out are more superior than their non-listed subsidiaries. What is remaining is the Keyland Ayala Properties Inc, 2 or 3 levels of GB building (investment properties), investment in australia residential properties along with finbar, and some smaller listed equities. <br /><br />Do note that these subsidiaries and associates are listed at cost as per annual report 2017.<br /><br />Hope this answer your question!<br /><br />Regards,<br />TUBThe Unique Bunch (T.U.B)https://www.blogger.com/profile/18291160695754244321noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-3216914817751228302018-03-17T10:25:35.422+08:002018-03-17T10:25:35.422+08:00PCI is certainly riding on electronics boom curren...PCI is certainly riding on electronics boom currently and it is the most valuable listed company among the 3. PCI had also been paying decent dividend up to Chuan Hup due to their cash generative high mix, low volume manufacturing business model. Finbar had some tough years in Perth but outlook seems to be a bit better going forward. PSD is still quite small currently and can certainly grow further. Have to see the margin of their recent sales.ghchuahttps://www.blogger.com/profile/09475913934410840352noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-15947567111260858482018-03-16T20:28:42.074+08:002018-03-16T20:28:42.074+08:00subsi and associates rather than associates.subsi and associates rather than associates.donmihaihaihttps://www.blogger.com/profile/12590388787069566676noreply@blogger.comtag:blogger.com,1999:blog-1609074421438585217.post-13530415302767738672018-03-16T19:53:43.365+08:002018-03-16T19:53:43.365+08:00Listed associates PCI, Finbar & PSD superior o...Listed associates PCI, Finbar & PSD superior or inferior to non listed subsidiaries?<br /><br />Before discount, 100% ownership is being valued at book. While listed associates are being valued by market value which are premium/ discount to their books. donmihaihaihttps://www.blogger.com/profile/12590388787069566676noreply@blogger.com